The naira depreciated against the dollar at the foreign exchange market after resuming trading following the June 12 Democracy Day celebration, with FX turnover transactions dropping to $92.68 million.
FMDQ data indicated that the naira marginally declined to N1476.24 against the dollar on Thursday, down from N1473.66 on Tuesday.
This marks an N2.58 loss compared to the N1473.66 rate on Tuesday.
Similarly, the parallel market saw the naira depreciate to N1490 against the dollar on Thursday, compared to N1470 on Tuesday.
This decline coincided with a sharp decrease in foreign exchange transaction turnover, which fell to $92.68 million on Thursday from $385.91 million.
It is worth noting that the naira had appreciated for two consecutive sessions against the dollar as of Tuesday.
Since mid-April 2024, Nigeria’s foreign exchange market has experienced fluctuations despite policy interventions from the Central Bank of Nigeria.
…………
Note : To submit Press Releases, Statements, and Advert Inquiries for publication on Waffi blog (website) or Television 📺, please use the following contact details: You can send an email to info@waffitv.com or reach us via Whatsapp at 07068286500